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Why oil prices have plunged 3% today. Filip De Mott. September 26, 2024 at 12:42 PM. A gas flame is seen in the desert near the Khurais oilfield, about 160 km (99 miles) from Riyadh.
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
The Company was founded by four South African goldmining concerns in 1935 to explore for oil in Venezuela and initially traded as the Ultramar Exploration Co. Ltd. It changed its name to the Ultramar Co. Ltd in 1940. [1] It established an operation in Canada, now known as Ultramar Corporation, in 1961. [1]
In 1991, Lasmo, a British oil company, bought Ultramar plc and in 1992 Lasmo spun off the North American refining and marketing operations which became known as Ultramar Corporation. [3] In 1994, Ultramar acquired Sergaz (founded in 1971 by André Ducharme) and Sunoco's Quebec gas stations. Some gas stations still operate under Sergaz but most ...
West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX).
Irving Oil – 769 stations in Atlantic Canada, Québec, eastern Ontario and New England; MacEwen – stations in Ontario and Quebec; Mobil – 233 stations acquired by Brookfield Business Partners from Loblaw Companies in 2017 and changed to the Mobil banner under licence from Imperial Oil; OLCO Petroleum Group – 319 stations in Ontario and ...
The OPEC Reference Basket (ORB), also referred to as the OPEC Basket, is a weighted average of prices for petroleum blends produced by OPEC members. It is used as an important benchmark for crude oil prices. OPEC has often attempted to keep the price of the OPEC Basket between upper and lower limits, by increasing and decreasing production.
In September 1996, it was announced that Diamond Shamrock would be acquired by Montreal-based Ultramar, a Canadian oil company for USD$1.96 billion. The primary reason for the merger was originally to attain USD$75 million in annual savings, according to Roger Hemminghaus, the chairman of the newly combined companies Ultramar Diamond Shamrock.